Objectives
- Learn practical solutions to key inventory management issues
- Learn how to ascertain actual business impact of inventory management issues and not just operational impact
- Learn how to generate solutions keeping the holistic business and operational impact in mind
- A practical exercise based course rather than theory / lecture based so that participants are ready to implement solutions from the moment they return back to their work
Course Outline
Quick overview of some “fundamentals”
- What should / should not be in inventory
- What is inventory management
- Understocking – Business Impact
- Overstocking – Business Impact
- Warehouse Operation Cycle
Understocking – Practical Solutions
- Re Order Points calculation – simplified
- Choose your battles – item classifications
- Requisition to Receipt cycle time
- Follow up mechanisms
- Alternate sourcing strategies
Group Activity – understocking solutions: Participants will put theory into practice in a group setting where they will calculate Re Order Points, develop item classifications and break down the Requisition to Receipt cycle time
5S principles and warehouse operations – a pictorial
- Sort
- Straighten
- Shine
- Standardize
- Sustain
Assessment of inventory management
- Benchmarks
- Key Performance Indicators
Key Stakeholders and their expectations
- End User
- Inventory Managers
- Procurement Managers
- Executive Management / Business Leaders
Overstocking – Practical Solutions
- Trend Analysis
- Exchange rate
- Inflation
- Volume vs. Value
- Historical trend
- Capital Spares classification
- Definition
- Impact on bottom line
- Impact on operations
Overstocking – Practical Solutions (continued)
- Magic of ROP = 0
- Housekeeping of maintenance work orders
- To sell or not to sell – obsolete vs. overstocked / slow moving
Group Activity – overstocking solutions: A case study based activity where participants will see the theory put into practice in a real life scenario and the resultant consequences of the solutions implemented
Abu Dhabi National Exhibition Centre
Abu Dhabi National Exhibition Centre
Since last two years My Company is working with Simfotix, and every time it is great learning experience. MS Excel is one of the most recommended Program with distinctive methodology and valuable deliverables.
Etisalat
A very good training by Simfotix on HRBP with their International Partner Human Capital Institute. We covered high level including strategy.
Dubai Islamic Bank
Great training course and materials. Super helpful to learn shortcuts and their best application. Thank you!
Imdaad Group
The in-house training met the desired objectives for improvement in the Finance function. Group work throughout the two days and team presentation on various analytics put thing in the focus learning direction. Good output Simfotix.
Finance House Abu Dhabi
Inhouse Training with Simfotix Training for Credit Transformation Program goes with a Wonderful learning experience of our Credit Risk Team. Looking forward to engage them in other upcoming training.
Abu Dhabi Terminals
A combination of learning and sharing through activities and self presentations. Learning Art of Public Speaking with Simfotix Training is truly a good experience.
Arab Bank, UAE
The session was engaging and informative. Overall program outcome is what we agreed and delivered to department.
Emirates Islamic Bank
Simfotix In-House training is well organized and our team learned lot of new things. We consider this as a value addition and meeting our objectives.
Ministry of Human Resources & Emiratization
Ministry of Human Resources & Emiratization
A very good training we attended with Simfotix Training.
Al Ghurair Group
Easy way of transferring knowledge makes the learning more digestible. Great work Simfotix for the in-house session of Advance Excel.
MAF Carrefour International
MAF Carrefour International
Thank you Simfotix for a comprehensive and value training to our Saudi Arabia Finance Team. Case Study and exercises were the key element of this workshop. As Learning & Development we are satisfied to work with them in future.
DU Telecom
Selecting Simfotix as sour training and learning development supplier is a wonderful experience. They have done various inhouse programs. Their trainers carry in-depth knowledge and expertise and kept the participants well engaged.
The Executive Council of Dubai
The Executive Council of Dubai
Simfotix Trainer bear a Persuasive approach in training and the company is professional in the arrangement of training till end to make it a memorable experience. The In-house session and the follow-up session is excellent approach.
Department of Economic Development, Dubai
Department of Economic Development, Dubai
Excellent Training conducted by Simfotix Professional Development. The whole day was full of fun and learning in Advance MS Excel.
Related
Course Materials
It is very important to analyze the need for Training along with the level of knowledge you require. This session give you a liberty to choose the modules you need, discuss it with the trainer how you want to be delivered, decide the place at your convenience and allocate number of hours to solve your problem. This does not include any development as a consulting but will include solution if you are facing a particular problem.
